The case involves an application filed by the Resolution Professional (RP) under Section 33(1)(a) of the Insolvency and Bankruptcy Code, 2016, seeking liquidation of the Corporate Debtor, Cogent Engineers Pvt Ltd. The Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor commenced on 30/08/2019. An application for extension of the CIRP was pending. The revival of the company was not possible, and no Expression of Interest (EoI) had been received. The factory, land, and building were already sold in 2016. The Committee of Creditors (CoC) had not held a meeting since 07/03/2020.
The Corporate Insolvency Resolution Process (CIRP) against Cogent Engineers Pvt Ltd commenced on 2019-08-30. The Resolution Professional (RP) filed an application under Section 33(1)(a) of the Insolvency and Bankruptcy Code, 2016, seeking liquidation. The CIRP period exceeded the maximum permitted 330 days under Section 12 of the IBC. No resolution or revival was possible. The factory, land, and building were sold in 2016. The Committee of Creditors (CoC) had not held a meeting since 2020-03-07. An application for extension of the CIRP was pending. No Expression of Interest (EoI) was received. The RP, Kairav Trivedi, was present. The court found that keeping the matter pending would serve no purpose. The court ordered the liquidation of the Corporate Debtor.
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The Factory, Land &…
The Corporate…
The case involves an application filed by the Resolution Professional (RP) under Section 33(1)(a) of the Insolvency and Bankruptcy Code, 2016, seeking liquidation of the Corporate Debtor, Cogent Engineers Pvt Ltd. The Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor commenced on 30/08/2019. An application for extension of the CIRP was pending. The revival of the company was not possible, and no Expression of Interest (EoI) had been received. The factory, land, and building were already sold in 2016. The Committee of Creditors (CoC) had not held a meeting since 07/03/2020.
The Corporate Insolvency Resolution Process (CIRP) against Cogent Engineers Pvt Ltd commenced on 2019-08-30. The Resolution Professional (RP) filed an application under Section 33(1)(a) of the Insolvency and Bankruptcy Code, 2016, seeking liquidation. The CIRP period exceeded the maximum permitted 330 days under Section 12 of the IBC. No resolution or revival was possible. The factory, land, and building were sold in 2016. The Committee of Creditors (CoC) had not held a meeting since 2020-03-07. An application for extension of the CIRP was pending. No Expression of Interest (EoI) was received. The RP, Kairav Trivedi, was present. The court found that keeping the matter pending would serve no purpose. The court ordered the liquidation of the Corporate Debtor.
The Factory, Land &…
The Corporate…